Further re Redemption

RNS Number : 0270M

Off-Plan Fund Limited (The)

17 May 2010

 

17 May 2010

THE OFF-PLAN FUND LIMITED

(the "Company" or "Fund")

Further re: Compulsory Partial Redemption of Participating Shares

Further to the announcement by the Company on 30 April 2010, the Fund announces that it has redeemed a total of 3,345,916 Participating Shares at 63 pence per share representing an aggregate redemption of £2,107,927.08, equivalent to 60 per cent. of the 5,576,553 Participating Shares previously in issue.  The redeemed shares have been cancelled in accordance with the relevant provisions of the Companies (Jersey) Law 1991.

If Members hold their Participating Shares in certificated form, they should receive new certificates shortly setting out their resultant holdings following the Redemption. Existing share certificates ceased to be valid at 6pm on 14 May 2010.  Payment will be made by way of cheque sent via registered post to each Member's address stated on the register of members on 14 May 2010.  It is anticipated that cheques will be posted within 7 business days of the redemption date.

Members that hold their Participating Shares in certificated form, who are concerned that the register of members may contain incorrect details concerning, amongst other things, their address, should contact Capita Registrars, the Fund's registrars, using the following number 0871 664 0330 from the UK or + 44 208 639 3399 from overseas.

If Members previously held their Participating Shares in CREST, the Participating Shares will be available for transactions with a new ISIN number JE00B3M1SG31. The Redemption proceeds have been remitted to CREST members within 7 business days of the redemption date.

Following completion of the Redemption, the Fund's entire issued share capital comprises a total of 2,230,637, Participating Shares which will be admitted to trading on AIM on 18 May 2010.

Words and expressions used in this announcement shall have the same meaning as given in the Articles of Association of the Fund (the "Articles") unless the context requires otherwise.

List of Contacts:

Development Capital Management

Andy Gardiner

Tom Pridmore

020 7355 7600

Merchant John East Securities Limited

(Nominated Adviser)

Bidhi Bhoma/Simon Clements

020 7628 2200

 

END

 

 

FURGGURUAUPUUBM